(1) Where the judgment or decree is against a principal and the principal's surety, it shall be the duty of the officer having the collection thereof to exhaust the property of the principal, both real and personal, before proceeding to sell the property of the surety.
(2) “Surety,” in this section, shall embrace accommodation endorsers, stayors, and all other persons whose liability on the debt or contract is posterior to that of another.
(3) The surety shall, if requested by the officer, show the property of the principal, to entitle the surety to the benefit of this section.